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tv   Your World With Neil Cavuto  FOX News  May 17, 2012 1:00pm-2:00pm PDT

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>>neil: get ready to i.p. go, the most highly anticipated stock offering ever and maybe the richest because if moments quote hear the final price of facebook's initial offering shares. they have gone from a low of 20 early to maybe up to $38 now. we think it could top out at $41 a share facebook would instantly beat out vista -- visa as the largest stock offering in history. anywhere. everywhere. the co-founder zuckerberg could see the personal stake soar to
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north of $19 billion making it instantly among the richest people on the planet when the number is released. we are all over it. if only the u.s. government were so in the green. to america's massive debt and what the top money man just said about it. >> it is not a crisis, does not need to be a crisis, it a crisis of congress' making. >>neil: i want you to hear that again. rewind the tape. >> it is not a crisis. does not need to be a crisis. it is a crisis of congress' making. >>neil: look at the dow. it was a crisis to marco rubio saying it is unmitigated crisis. welcome, everyone, $15.7 trillion and counting where the
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debt stands right now. right now. right now. about $4,000 more since i said that. that may not be a crisis to the treasury secretary of the united states but it is to a rising senator in the united states, governor romney already hitting hard on the issue in florida to a second day and new to one of his potential running mates weighing in on it today. florida republican senator rubio addressing the issue a short time ago with me in this exclusive chat. >> there was a crisis that the guy doesn't think there is one. the president's budget who he worked for what voting down 99-0. not even the democrats would vote if the democrats' budget and the senate democrats have not offered a budget in 3 1/2 years. do people understand what i have just explained? the democrats in washington that control the senate have not offered a budget in 3 1/2 years, almost four years now. this government spends close to $10 trillion since the budget basketball last passed.
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so, for those that do not like the ryan budget, where is that budget? where is harry reid's budget and the democrats in the senate budget? i understand that at the end of the day to get a budget both sides have to give-and-take but how can you give and stake or back-and-forth, if the other side is not at the table? that is outrageous, and for the secretary of the treasury to say there is no crisis when they will spend more than $1 trillion they take in that is a crisis. >>neil: what the secretary was referring to was the threat being characterized of house speaker boehner that when we come to the debt ceiling it could be leak this summer or later or even beyond that, is there a corresponding amount of spending cuts to go along with however much you raise the debt ceiling, he will not go for that, the president, i guess, has made clear, senator, he will not go for that, so, here, then,
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another debt ceiling crisis. >>guest: well, we are going, we are having a debt ceiling crisis each day. here is why: this government every year, is spending $1.5 trillion more than it takes in. what the speaker is saying, use the next debt limit expiration to deal with this in a serious way. and the last one came in and went and it was not dealt seriously. when will the u.s. government and the president address the fact this is a government that spends $1.5 trillion more than it takes in each year. that will not solve itself or go harp on its own. each year it is unresolved the harder it becomes to solve. so that is what the speaker trying to say, where is the sense of urgency? >>neil: bill clinton has thoughts on this matter, saying maybe the only answer, really, down the road, is across the board tax increases on everyone,
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not just the rich. in other words, when the rates, the old bush rates expire, what he is saying let them all expire. what do you make of that? >>guest: if you raise taxes on people that don't have jobs what is the point? if you raise taxes on an economy that is not going you will destroy it. the solution growth. the economy has to grow. the only way to find ourselves out of this problem we face is a combination of rapid explosive economic growth, combined with a new sense of fiscal discipline, hold the line on spending and grow your economy fast and the problem with the tax increases that former president clinton is outlying, they will prevent or hold back the kind of rapid economic growth we need. now, if our economy grows really fast, you will have more taxpayers, and you do not need more taxes you get more taxpayers, more people working, more people paying taxes, more people making more money, so that means from a monetary perspective they pay more and that is how you solve the problem.
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that is something that both parties should be able to agree on but unfortunately it is part of the back-and-forth in the political cycle. >>neil: this is related if you think about it, facebook cofounder as you know, wants to renounce his u.s. citizenship. he is brazilian by birth but he wants to set up shop in singapore and that got chuck schumer and a number of others upset saying that he should be punished for that, that anyone would renounced their citizenship should be subject to retroactive taxes, should not be allowed back in the country, what do you make of that? >>guest: well, look, it is not a fun story to listen to or pleasant, and i will not celebrate what he has done or the decision he made but the bigger issue, and we were elected to deal with the big issues not one guy and the big issue there are people who are increasingly finding it more cost effective to invest their money overseas, because the u.s.
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tax burden is uncompetitive and you add to that the u.s. regulations burden, it becomes less competitive, so, the bigger issue and the one we should focus on is the fact that each year the u.s. is becoming less and less friendsly place do do business and people are looking to manufacture their companies and assets overseas because of that. that is the issue to focus on. i am not excusing what he has done or celebrating it or telling you i am happy what i have read with regard to the one person --. >>neil: would you say he is never welcomed back? >>guest: i have not studied that. i am not happy what i have read. that is the law, i think, but it is not enforced. if you renounce your citizenship to avoid paying taxes, you are not allowed back in so maybe they are asking the law be endorsed. but why think we should be distracted from the big issue. the important issue, the issue that really matters is the fact that the combination of our taxes and regulation is making
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america a harder place to do business while other places are becoming easier to do business, and we are losing jobs because of that and we have to stop that from happening. >>neil: you mentioned regulations and a lot of colleagues are saying in light of the j.p. morgan chase trade snafu, maybe we need more regulations? maybe what we have done on dodd-frank was not enough or enforced enough. the president favors more regulations and governor romney does not. where do you stand? >>guest: j.p. morgan chase lost money because they made a bad decision. businesses lose money all the time. some people go out of business because they made bad decisions and you know would they are accountable to? shareholders. they had a meeting in florida for shareholders and i guarantee they were not happy about the decision or why it happened. and they are accountable to the shareholders who will hold the board and the decisionmakers responsible for the money they last. i'm not sure the existing regulations the president has advocated for could prevent businesses from making bad decisions and losing money.
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and, the sheriff hail -- shareholders of j.p. morgan chase will hold them accountable but you cannot say america is not the right place to do business, open your business somewhere else because it is easier and more competitive. that costs us jobs and will prevent economic growth we need in order to generate the revenue we need to pay down our debt. >>neil: you have entered the political arena in a way maybe you did not intend, you have become a go knox that in -- bece a phenomena but some aides are impressed they think you are too young, too inexperienced. not that you are pitching yourself for the job. but what do you thing of that sentiment? >>guest: i don't know. i have said appropriatedly i will not discuss the vice presidential selection ross. i will not discuss it in any way. they have a good process in place. governor romney has a long history of making good decisions in his personal life and business life and political
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life. so, i have in doubt he will make a great selection as his running mate and i am confident of that and i am curious to see. >>neil: the argument against you, and i commend you for not talking it, but the argument he has not been vetted enough, but in the race in florida, it seemed to have been aggressively vetted, but maybe they are concern about another sarah palin-type deal. what do you think is going on? >>guest: i will not comment on the vice presidential process. >>neil: please do. please do. >>guest: i will not. i am happy to talk to you about who i am and you have followed my race in florida. it was an intense race and when i have been here in the united states senate we have gotten our share of attention, not always the attention i like but the attention. and i feel qualified to senator here and happy to be here and feel blessed to be here and hope i can make a difference here. >>neil: do you think governor romney would need a that danny? he has made inroads with women
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opposed, ironically since the attack on women he has been doing better, but not so with latinos. >>guest: i tell you what this country needs. someone would will make it better than the last 3 1/2 years. all the elections when the incumbent is running, the election is simple: are you better off today than you were four years ago when this person took over in and if that is what this election is about that is what this election is about, then mitt romney will be our next president because there is no way president obama, with a straight face, can come before the men and women and argue that somehow he has made things better since he got here as president of the united states. what mitt romney needs to be clear, these are the things he would have done differently. he is making that argument in a compelling way. when he does, it will appeal to all americans, including members of hispanic descent who feel the pinch of the economy more than any other group in america.
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>>neil: are you surprised that republicans on the gay issues, by the way, are uncomfortable with it? that they don't more forcefully say, maybe at risk of being branded in the press as being out of touch, it's, between a man and a woman, and there is almost a reluctance like you are walking on quick stand? >>guest: i don't if that is true. i think that the bottom line, i am not saying all americans but i do believe that marriage is an institution where this is a union between a man and a woman, and that is my personal believe and people of good faith can disagree with me and they have made a different decision than that. >>neil: do you think that should be in our constitution that there should be an amendment that states that? >>guest: well, ultimately marriage is regulated by states, so, that is where it remains and where it should remain and that is what most people believe. what you pointed to is different, you want to know my opinion on marriage?
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i give you my opinion on marriage, a union between one plan and one woman and that is what it is in florida because of the voters wanting it that way in the state constitution. but, we need to understand what is happening here. the president chose this issue, and he chose to take on this issue the last few weeks for political reasons. he does it for political reasons because he doesn't want to talk about the economy. i just pointed out, are you better off today than four years ago? he doesn't want that to be what the election is about it. it is net just gay marriage. >>neil: senator, by state that so strongly, he loses north carolina and now the polls show he is down in north carolina, and it could tip indiana going back to "the rent is too damn high", the latest polls indicate that and, virginia, but i am not saying this is "the" issue but i am saying it may not have been so politically calculated, it could have been do raise money. but the political calculation is that, he doesn't get any more
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electoral votes for it. >>guest: i think they have admitted it was politically calculated because they said they were going to make the decision anyway, but they wanted to do it closer to the convention so it is not a question of "if," but "when." he admitted he was going to announce it anyway but he wanted it more dramatic around the convention. so this is politics. and not just politics. it is also about distraction because he does not want to answer, are you better off than you were four years ago? president obama and his folks are smart enough to understand this election is about the economy and how it performed in 3 1/2 years since he has been president he cannot win. the american people will not give him another four years to do what he has done the last four years, and he knows so so this is part of the effort to distract. and people see it for what it. is. i really do. >>neil: from senator rubio do
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facebook, the company now made official, how much it will be fetching tomorrow $38 a share. that values this particular offering at close to $19 billion if you extrapolate that to ever value balance on this company, north of $100 billion. if you carry that out to zuckerberg, the guy who founded it, in a college dorm not even eight years ago it makes him among the richest people on the planet on paper worth about $20 billion. so we thought we would talk to someone sharely valued, our own charles payne. so 400 million shares priced at this, that will be tough to keep going, isn't it? >>guest: not the first couple of days. the frenzy is absolutely amazing. you have the embedded audience, 900 million users, this sort of
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excitement. zuckerberg has become a rock-n-roll star beyond wall street, beyond social media, and that is why it is going to be something of a very dangerous situation for many reasons. >>imus: you have -- >>neil: you have reminded me it is a cultural icon but it does not make enough money to justify this price. >> there are ways we value companies, evaluation met tricks and most have heard price to earnings, and why care what ratio you use, it is out. outrageous. it doesn't mean that the stock can't keep going up. if enough people believe it and there are more buyers than sellers, this will be gang busters. i would the know be surprised if this stock doesn't double at least tomorrow in trading. however --. >>neil: they come out the gate
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like gang busters and they retreat. >>guest: in all fairness, i read an article yesterday in some of the smart people who when google came out said the evaluations are extraordinary, stay away from it and it went from $85 to $700, but, still, there is the idea you have 900 million people but lou do you monetize it. >>neil: but it is not the idea they have plenty of people they are reaching, but, then, they have to look at their advertising on that site, and g.m. found they were not. so, g.m. pulled their advertising. what do you make of that? is that the way facebook makes money, it is in trouble. >>guest: that is a yellow if not red flag. without a doubt. for the car company to say, you know, we cannot, no one clicked on the ads. think of that. >>neil: maybe they just don't
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like g.m. >>guest: ford actually increased their sales. so that is a point. and, also, it is well then, people click through on the ads more frequently on something like a google than on facebook. facebook doesn't no how to monetize the mobile aspect which is the fastest growing aspect. and another thing people are worried about, a lot of insiders are selling stock tomorrow. a lot of company honchos, and that usually worries me. because they take the money and run. >>imus: i bring if my buddy from the "wall street journal" and we see these as seminal events, illustrating how the market is going and we try to look at this for significance so we are covering it because it is the phenomenon it did. is it justified? >>guest: this is a hell of a price. this is incredible price for an
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internet company $100 billion but it is indicative to me of the digital age economy. can you imagine five years ago thinking that facebook would sell for $100 billion? or google for about that? if you look at the top five companies in the united states, not exxonmobil and general electric, but google and facebook, i somewhat agree if you believe in the united states economy and you believe in technology you have to buy the companies. >> i don't disagree but do you buy it at $38? whoever gets it at $38, that is great but someone will have a challenge to buy it at $75 or $100 a share? that is then -- nerve wracking. >> the price of the stock was inflating so much, look what has happened to the rest of the stock market.
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it is in a nose dive. >>neil: that worries me when we hang our hats on these guys, and i take nothing away from site but i worry about the high expectations set up, because i also as we all remember, yesteryear's stars, the pets.com, and all these high flying companies in the moment and the moment was gone. how do you tell people, look at this, what is meat and what's sizzle. >>guest: well, a tough question. remember what happened in 1999 and 2000, we had the dot.com burst. we lost $7 trillion of wealth back in 1999 and 2000 when people were buying amazon for, at one point the capitalization was greater than the value of every book ever printed since
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the printing press was invented so you get this euphoria but people are saying, what do i want to invest in? general motors? or a company like google and apple and face book that look like the future. >>neil: but general motors they make stuff. >>guest: they making something. >> and we talk about the great tech bubble crash, facebook will become the face of the stock market tomorrow. for a lot of people who have not played the market in a long time. i am worried about that. i want all americans to be in the market, and if this is what they hang their hats on it may not be good. and here's what we did today: supported nearly 3 million steady jobs across our country... ... scientists, technicians, engineers, machinists... ... adding nearly 400 billion dollars to our economy...
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>> well, if you have been to new york times square, i recommend it, and a couple of deli's, let's talk about the nasdaq, that will be the center of all things hot and new and cool on wall street, far from wall street, where facebook shares will trade. tomorrow. they have been priced tonight, coming out at $38 a share. it was not long ago they were toying around with maybe getting $22 a share and as the buzz was building, it got up to the high 20 and then to $30 and they said this could be between $30 and $32 and new $34 and 28, and now, 38 and 400 million shares could hit the market tomorrow, you have what could be the largest stock offerings of all time
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anywhere. that is why it is a big deal and the fact far there are 900 million facebook users across the planet. the question is. how many will friend the stock? the extent of my social networking knowledge. you might be liking this, but chuck ain't liking this. >> he wants to defriend the united states of america just to avoid paying taxes. and we aren't going to let him get away with it. >>neil: he is not happy with facebook co-founder dropping his united states citizenship, to avoid a tax bill as they go public. and, now, what do you make of what the senator wants it do? >>guest: the senator wants to change legislation, we have legislation on the books already, and he wants to change legislation and he is making a big issue about this facebook co-funder. this facebook co-founder was an
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american citizen after he came to america from brazil. his country of origin. the place he was born was brazil. he declined citizenship in america over a year ago, not yesterday, due to the facebook i.p.o. he said i cannot operate properly as a businessman in the far east with the restrictions of american citizenship. he claimed that a year ago. >>neil: you are right. he claimed it is tough to invest or do this if anyway, here, there, trading back and forth. but more about regulations than taxes. leaving that aside, he has paid a good deal in taxes and said he would continue paying his taxes whatever is owed to the united states but is it a double jeopardy to say, you say you are renouncing your citizenship, you are not welcome back here, even to visit? >>guest: i agree. conduct schumer is screaming and saying if you don't want citizenship in america, don't
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come back. well, why? that is not constitutional. that is not democratic. why wouldn't we want people to come back? he can come back and spend a lot of money here. >>neil: i understand where schumer is coming from, he came to the united states, hooked up with this guy to start what would become one of the most successful start-ups, ever, and then you pack up your leather suitcase and go and now you have the gal to say i might come back. >>guest: he is saying i might come back, but what senator schumer is saying we don't want people who are trying to denounce citizenship to dodge taxes, to then come become. and i can understand. if someone is trying to dodge taxes and denounce citizenship and flip glop but that is in the question and for suck schumer to be jumping up-and-down and blame --. >>neil: if i were chuck humor i would be worried about the
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other guys leaving and going to switzerland and singapore and to those locations. they are doing it for some reason here. and it is because they don't find it financially attractive to be here. >>guest: beneficial. so, we need to make things bible. >>neil: i am not justifying this. >>guest: i agree, we have to get to the core. >>neil: i just said we agree, we agree. don't yell. bracing for war in the windy city, chicago businessmen told to ditch the suits because they could be a target. are seeing and hearing right now with the touch of a button ? droid does. does it post it instantly to facebook with sound ? droid does.
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>>neil: you could say in your face book, not even eight years ago that zuckerberg was looking for a date, finding a way to do a date service and facebook as we know it today was born. of course it grew into this humongous social network site that is the buzz of the world with better than 900 million users and people go in and out of this thing more often than any other website on the planet. the question is, is it worth what right now wall street and the company is hoping it will be worth in the area of $18.4 billion. that is what you get with an offering being priced at $38 a share. if that holds, that would put it
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as the second largest offering, ever, behind visa, which came out with an offer of around $19.7 billion. now, of course, it doesn't really matter, once it starts trading these thing particularly internet offerings can double, triple, and quadruple so you do not know what it is worth until the dust settles but you do know that young man there, would had to drop out of harvard, he didn't have to, he realized he had a gold mine on his hands, he will be worth a lot in the area of $20 billion as donald trump said referring to his young girlfriend, "pre-nup," that is the donald, a separate issue, and do any of you remember the violent riots in pittsburgh? authorities bracing in chicago for the summit nearing in chicago and professors are filling the city streets, plus more coming in tonight, and offers urging workers to trade
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suits for casual clothes, preferably hoodies so they are not targets and banks are closing down out of fear for cuss tores and their safety. and tea partyers are called "extremists." >>guest: this does raise the question and we all know the answer, when the last time a tea party event required thousands of riot police to guard against violence and anarchy? never. so it irks me there are people that make the equivalent teen the tea party protesters and this increasingly violent occupy movement, the occupy people will be there in chicago, gearing up for this all year and there is a blurred blind between the people who pose at mainstream peace
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loving occupiers and the types who are professional agitators and who is caused over several years, millions worth of property destruction and damage in the name of protesting global injustice and, of course, protesting capitalism. >>neil: i have been to some of the events such as with the wto or g-8 ministers and there is always a cause if protests and an opportunity but it seems to have gotten much more heightened lately, and in this case, worrisome for chicago. any action against them is going to be treated disproportionately in the press. is that justified? >>guest: yes, and it is a toxic cauldron. you have basic elements, necessary ingredients for the leftist protesters people who are there to an tag --
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antagonize police officers and after the wto riots the most prominent was in 1999 wto riot in seattle where the city was completely unprepared and that is what i worry about if chicago, i understand they are going to be importing extra law enforcement from other nearby cities including milwaukee and philadelphia, they will all come in. but this is defensive. they know that the media and the leftist and the progressives are going to put the ballistic missile on -- blame on them and taxpayers and the business owners will have the bill. the demagoguery and rhetoric has never been called out by this administration. >>neil: it will be nasty. we will watch. thank you. we are watching facebook, too, and dave ramsey is worried about the hoopla.
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>> facebook fever, is it hot enough for everyone to invest in it? personal finance expert, dave ramsey, thinks you could get burned. he all rains on every parade. everyone is excited. everyone is happy. there is dave, well ... good to have you. >>dave: i'm excited when you make money. i'm not excited when you lose money. first, i am a huge facebook fans i have a million followers. i love it. it is a great product. we love 'em. but that is not the point. single stock investments are risky, initial public offerings are very risky, and the fact that the public is going bananas and investors have no idea what they are doing, they have not ever done a ratio analysis or looked at a stock and they don't have any clue what they are doing they are buy it to tell
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someone at lunch they bought it and they will drive the price up through the roof. it will not be a good buy. >>neil: you tell folks if you like something enough, like the peter lynch analogy, if it looks like it is busy in the parking lot, you stick with it. so they could get it, then, if it is viable, even if they pay, it will zoom. google and apple are examples. is this company that? >>guest: the question is, is it i.p.o. investment a good idea for someone watching you and i talk right owe? no. it is a hyped up, very public crazy ideal investment? no, too much risk. if you want to buy it because it is a great company, and i think it is, well, watch it a year and put knit your portfolio if you are a single stock trader. i suspect a lost mutual funds i own will buy facebook, and i bet
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almost none of them are buying it this week. >>neil: it take as lot to stick around from the last interpret implosion, the survivors were e-bay, amazon, and precious few. and this a long time survivor? >>guest: well, i don't. they are in the most value it will type of market and that is social media. tenth minutes another twilighter wasn't anything and now it is huge. and, you think before that, you blink and instand gram and facebook bought them for $1 billion. pretty cool but this is a fast moving market and yesterday's facebook can be tomorrow's myspace. you can galveston county irrelevant quickly. >>neil: story of my life, pal. dave ramsey, thank you. and a first look at general election fundraising numbers. president obama, governor romney, neck and neck. who is cut, the checks?
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>>neil: our markets are down today, of course, the 11th down day in 12. not so much concerned about here but what is happening in europe. fears it is imploding on news from spain where banks noticing a lot of folk pulling the money out. moody's seizing on that, today, and it cut the ratings of 16 spanish banks to little more than junk. that is not good news. people invest on these securities based on their rating and if they are junk they don't want them. so we will see how it pans out
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tomorrow. secondly, we told you about the big news of the day, the second's second largest stock offering is set to launch tomorrow morning when the nasdaq market opens for trading when we will see facebook at $38 a share and it could go anywhere after that but it would be one of the largest offerings of all time, second in the scheme of things, but, not necessarily when all is said and done in terms of shear volume, it could eclipse all. we will see. we have sandra following this closely from fox business network. well, they have heightened expectation. >>guest: if this does not rise at least 50 percent on the open tomorrow, it would be a disappointment. so, the expectation you could say are very, very high. >>neil: but isn't that hard to do? for something with this large a flow, for something of that to
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rise that much, it is the equivalent of, you know, a battle ship doing a hair spin turn. >>guest: in question. the i.p.o. is hot, the largest in history topping the biggest we have ever seen, and the demand from the small mom-and-pop retail investor for this thing is astronomical. it is something people know. obviously something they like with 900 million users and women want -- people want in on the action so the demand is expected to fuel a strong rally. the question is, how short-term will be it? >>neil: we will see. thank you, sandra. among the first to put up the warning signs, take a chill pill. look at all the factors. we will monitor on fox news and fox business network. look at this, the fundraising
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numbers are in, governor romney aggressive fundraising push is paying off, raking inasmuch money as the president did in that in, is it a fluke? real? who knows better than this young lady, a big money fundraiser. obviously, more "friending" him. >>guest: the party has started. this is, now, everyone that was sitting on the fence that was crying, newt will not be the nominee, santorum is not the nominee, the train is left the station and they don't want to be left out so everyone is getting on board. now the push is bigger than ever. with obama sending a mixed message where if private he is anti-wall street, and, then, in public, he is anti-wall street, and in private he has a civil union with wall street with them all giving to him at parties so you see more and more money come
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romney's way. so, face it, $1 billion race. >> that is the first five minutes of zuckerberg's day. so, is wall street as anti-obama as it appears? i mention that because his rhetoric has been nasty to put it mildly. the fat cat thing. you have not done your fair share thing. we coddled you. when push comes to shove, he had been at their back with rescues, and a financial law that many say lacked teeth. obviously he is trying to administrator teeth but my point is, there is another way to spin that. >>guest: obama is a hip create and -- hypocrite. people are seeing this. the founder of ameritrade is coming out with a huge super pac
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that will hit obama and a hot of republicans and people associated with romney super pac's scared. >>neil: he is doing that to remind his fellow wall streeters look, this guy has not been our friend and he now is talking about upping the regulations although he had them in effect and we still had a j.p. morgan chase fiasco so he is trying to remind them, stand true to your keep washington off view, right? >>guest: this is a lot of the reason why it is so confusing to the american public. who obama is. he is a promoter of class warfare and the wall street movement is at the top of the iceburg he comes out and is, like, damn the rip, and the dirty wall street fat cats but at the george clooney celebrity parties and the things he does, who do you think is there? the jamie dimons. come on.
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>>neil: was he there? >>guest: he did contribute to the new york fundraiser. >>neil: marco rubio dismissed the talk of being too young or not properly vetted to be vice president of the united states but will that come back to haunt him, that he is too young? some romney types of saying we do not want to be sarah palin? >>guest: no, he is doing what his conscience or publicist said to do, not answer that. there is no doubt he is on the short list he is not too young. look at mark zuckerberg, i don't think age ... >>neil: zuckerberg is 28. and one senator schumer's rant against a certain cofounder of
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every address, every time with every door direct mail. >> you know, maybe we should spend less time punishing people who want to leave this country and find out exactly why they want to leave this country. for many, it's taxes. and for facebook co-founder it was enough. let me be clear, he's hardly a sympathetic character here. after all, he stands to make $4 billion at a minimum when facebook goes public tomorrow. and hop skipping to singapore that has no capital gains tax, to save him a lot of money, too. and i think we should be focusing on the relatively smaller financial pride who continue to vote.
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chuck schumer going after those who bolt the country. schumer saves $67 million in taxes. he says not so, he plays plenty of taxes. until he formally moves, we'll continue playing plenty in taxes. i don't know. this much i do. he isn't the issue but also cashing out this country. because this isn't about one guy bolting, this is about the whole marching band joining. ex-bankers who had it. entrepreneurs who feel stifled by it. by a government that keeps them guessing on how new regulations are going to be coming down the pike and what they are. and that taxes on to the law and wonders why they keep all the money parked across the pond.
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problem is that a billionaire from facebook, politicians who are gargly two faced. say this is a great country but takes our greatest minds away who would sooner save the rich to fund their nonsense that they can't understand this wanting to leave nonsense when they can understand. and they do understand. the mysk you so long? we'll see a lot more of this, by the way, a lot more and i warned you about it. one hour from
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